"The best time to plant a tree was 20 years ago. The second best time is today"
Whether you're just starting, saving for home purchase, or planning your retirement. The first step to investing is the most important. At TRobson Financials we recognize that not everyone is at the same stage in their journey, and that a one size fits all strategy may not be the best. We take a client first and education based approach to find the plan that will work best for you.
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What is an RRSP?
An RRSP is a registered retirement savings plan. This means that when you contribute to your RRSP, you get two important tax benefits:
1. Lower your taxable income today.
You can deduct your RRSP contributions (up to your RRSP deduction limit) from your total income to reduce your income subject to tax.
2. Withdraw at a lower tax rate later.
Your contributions and investments grow tax-deferred in your account until you withdraw them. When you withdraw them (and any growth on them) in retirement, you may potentially have a lower income. A lower income means that you potentially pay tax at a lower tax rate on the amount you withdraw. Even if you’re at the same taxable income, you’ve benefitted from the tax-free growth while invested.
An RRSP might be the right fit for you if:
1. You’re in a higher income tax bracket than when you plan to withdraw money.
2. You wish to save for your retirement on a tax-deferred basis.
3. You want to have funds to help you buy a home, or to help pay for education for yourself, your spouse, or common-law partner.
4. You want to explore options for lowering your household taxes with your spouse in retirement.
What is a TFSA?
A Tax Free Savings Account is a registered investment account designed to help Canadians save money, while holding qualified investments. More than just a typical savings account, a TFSA can hold a variety of different investment types, such as mutual funds, segregated funds, insurance GICs and more.
A TFSA may provide flexibility. It can be used for short-term savings goals, such as saving for a car or a down payment for your first home.
If you’re a Canadian resident 18 years or older with a Social Insurance Number (SIN), you can open a TFSA. The amount you can contribute will be dependent on your age.
Benefits of investing in a TFSA
1. Tax-free growth
2. Tax-free withdrawals
3. Save money for any reason
What is an FHSA?
The First Home Savings Account is a registered investment account that allows Canadian residents to contribute up to $40,000 (with an annual contribution limit of $8,000) to buy their first home in Canada.
In general, FHSAs can hold any investments like stocks, mutual funds, GICs and segregated funds.
You can deduct your FHSA contributions from your total income to reduce your income subject to tax. Additionally investment growth and withdrawals from an FHSA will be tax-free provided you use your withdrawals to buy a qualifying home.
FHSA rules and eligibility requirements:
1. You’re a Canadian resident,
2. You’re at least 18 years of age or older,
3. You’re under the age of 71
4. You or your spouse/common-law partner haven’t lived in a home that either of you have owned in the current calendar year or in the previous four calendar years.
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TESTIMONIALS
What our clients say:
"Found about this through Tiktok but as most I was intrigued and had questions. In my zoom meeting I had every question answered. Very informative, personable and knowledgeable team that's there to help you understand if this is a good fit for you and your portfolio.
So happy with this meeting. Time well spent. Looking forward to the follow up." - Michael M
"Very knowledgeable on financial literacy . Patient to answer to all queries. Good advice on options available for insurance policies.
Great talk Tadashi! Keep up the good job of educating the public on how to benefit from day to day finance needs." -
Joseph O
"I am extremely happy to have come across Tad and his team, they are very professional and knowledgeable, this has been a life changing experience and I am sure we will have a long and prosperous relationship.
Thank you Tad and your team.
God bless you all." - Gerardo G.
"I leaned more in one hour than anyone has taught me in my whole lifetime. Tadashi explained everything so clearly and was very patient with all of my questions." - Lisa F
"Tadashi was professional and answered all my questions" -Bryan S
"I learned a lot today as what my investments can do for me. It was a very pleasant experience"-
Linda R
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